Storm Surge From Hurricane Gustav Has Potential to Overtop New Orleans Levees | Market Digest: "Damage to Offshore Oil Platforms could reach up to $7bn in Insured Losses
A strengthening of Gustav to a category 4 hurricane as forecast, could produce a storm surge of between 13 and 18 foot, and may overtop some floodwalls and levees in New Orleans if it were to hit the city, according to catastrophe risk experts, Risk Management Solutions (RMS). This would set a critical test of whether they could handle such a powerful surge without being overwhelmed, as happened during Hurricane Katrina when the city was inundated in 2005. Gustav is expected to make landfall tomorrow afternoon local time. The threat to New Orleans will depend on the eventual path of Gustav, as well as its size and intensity."
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